Ensign Peak Advisors' bet on Elon Musk's electric-vehicle company surged in value from $1 million to $330 million in 12 months.
The lawsuit says the church used donations intended for charity on a shopping mall and insurance company. The church has called the claims "baseless."
Ensign Peak Advisors' Tesla position surged 550% in value to $330 million, and its GameStop stake was worth $22 million during the short squeeze.
The Mormon Church’s $US100 billion investment fund cut its positions in Exxon Mobil, Wells Fargo, and Marriott in the first quarter. The church’s investment arm, Ensign Peak Advisors, reported a 21% fall in the value of its stock portfolio to just under $US30 billion in a SEC filing this week. […]
The Mormon Church’s mysterious $US100 billion fund revealed huge stakes in tech companies. Ensign Peak Advisors had a $US40 billion stock portfolio at the end of 2019, SEC filings show. It included $US6 billion worth of shares in Microsoft, Apple, Alphabet, Amazon, and Intel. Ensign doesn’t hold Coca-Cola or Starbucks, […]